Every small business owner should read these 4 books
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Owning a business has a STEEEP learning curve and let’s be honest. An MBA is great, but ain’t nobody got time for that. I’ve combined the joys of being a business lawyer in Virginia with a couple of key books that I think absolutely any small business can, and should, implement in their businesses. These books have saved my money, my sanity, my time, and my golden fairy sprinkle dust.
Profit First
Cash mismanagement is one of the biggest reasons for small businesses to go under.
I remember when my first sizable tax bill came, before reading this book. I was devastated. I knew the taxes were coming, cuz...lawyer. I just didn't plan for it at all. Then I had to scramble to pay it.
Post Profit First, tax time is as easy as writing a check from the money I honestly kinda forgot about until tax time :D
This book helps you avoid those cash flow issues, pay yourself a decent wage, and enjoy the success of your business. It comes with clear instructions that you can pass off to a bookkeeper or even an assistant pretty painlessly. There’s even an entire network of bookkeepers and accountants already trained in it too, so you can just check out the resources in the book for that.
You can buy it here or rent it from your local library.
We Should All Be Millionaires
Yall, Rachel Rodgers, the author of this gem, is many things.
Recovering IP lawyer, business coach, Keeper of all things real. But she’s also managed to build a business that empowers herself, her team, and her customers. Personally, I’m over here trying to do the same thing and she gave us a blueprint to do it.
Like, literally, step-by-step instructions. Sounds like it's worth a couple of hours no?
There’s also a fun audio book if you prefer listening to your learning rather than reading it.
Traction
If you ever felt like your business was running you, then maybe it's time to “Get a Grip on Your Business.”
AND
Contrary to popular belief, you can actually offload things.
But it starts by knowing exactly what you are asking someone else to do, who they report to, and what their metrics for success are. Want someone to manage all your client intake. GREAT But do you want them to come to you with every technical issue or report to someone between you and the technical issue? Something to think about. Plus this book comes with tons of resources online that I HIGHLY recommend, especially the Org Check-Up :D
You can buy it here or rent it from your local library.
4-Hour Work Week
No business owner can do it all, nor should they.
If you got through Ms. Rodger’s book, you already know that. Tim Ferris approaches with the view of a young single male, but how far he pushes the idea of delegation to earn back your time freedom is useful. So useful that it makes Ms. Rodger’s recommendation of hiring someone to do your laundry so you can focus on earning money seems downright tame.
Photographers don't need to edit their photos.
Florists don’t need to deliver their arrangements.
Designers don't need to even design if they bring the right people in.
Figure out how you aren’t limited to making money with your time and just the people in your vicinity. The internet is glorious yall.
You can buy it here or rent it from your local library.
When I work with my CLO clients, I draw on all of these books to combine my legal expertise with some epic business knowledge. I do that because I want you to build the business that gives you the life you want, is protected from shenanigans, and does so without you working you're a** off, grinding away.
You don’t need an MBA to be successful, just the right resources. And I’m happy to share some of the ones that have been absolutely crucial for me.
**Disclaimer: This is only general information, not legal advice specific to your situation, and does not create a client-attorney relationship. If you need legal advice, please contact a lawyer in your area.